Great Eastern Credit Union v. Cooper

In November, 1921, the defendant Harry Cooper applied to the plaintiff for a loan. He subscribed and paid for *80some shares of stock in the plaintiff corporation and was told that the plaintiff would loan him $2,500. On November 21, 1921, the defendant Harry Cooper, as principal, and the other defendants, as sureties, signed an instrument agreeing to pay to the order of the plaintiff the sum of $2,500 in twenty-five installments of $100 per week. At that time the plaintiff paid to Cooper the sum of $2,350, having deducted from the loan of $2,500 the sum of $150 as discount or interest paid in…